How to Reduce Cost Per Lead by 35% - Television Advertising Best Practices
Tracy Woodworth, Media Analyst at Convertro (http://www.convertro.com/) details how reduce cost per lead. In this video she suggests tips such as creative optimization and program allocations.
- Creative Optimization
- Creative Length Mix
- Network Allocation
- Day of Week Allocation
- Optimal CPM Negotiations
- Program Allocations
- Up-Front TV Planning and Strategies (once a year)
If you want to go ahead and reduce campaign cost on a front end, what you’re going to do is to put together a TV planning strategy.
You probably need to do it about once a year and then subsequently, you’ll be putting together incremental strategies based on the day-parting, on creative optimization. You’re going to be testing your creative throughout the entire campaign length.
You’re also going to want to take a look the creative lengths themselves, 30’s, 60’s, 120’s and then be testing those different creative and the creative lengths out on different networks.
And another way that you can go ahead and break it down a little bit further is to actually day-part and take that a little bit even further is into day of week allocation.
So if you’re working with the specific network and it is performing pretty well and you’re going to have continuous buy with them, you will have the ability to really optimally negotiate some different CPM deals as well.
So if you really segment your data down into a very specific program allocation and then also you’re taking a look at your creative and your testing in all of your material continually, by the time the next annual planning comes around, you should have a pretty good idea about that you want to do.
So just take a look at the program that you’re actually going to be running your ads on and then also your network allocation and then the time of day and day of week and you should be pretty good.